Gurugram-based fintech firm Razorpay has set up an advisory board of industry experts from different fields. It includes members like N. S. Vishwanathan (Former Deputy Governor of the Reserve Bank of India), Arijit Basu (Chairman, HDB Financial Services and Former MD, SBI), Aruna Sundararajan (Retired IAS and Former Secretary, Ministries of Steel, IT & Telecom, GoI) and K. P. Krishnan  (Retired IAS and Former Secretary, Ministry of Skill Development and Entrepreneurship). 

The company has claimed in a statement that the newly formed board is founded with the singular vision of establishing the highest standards in customer experience, corporate governance and risk and compliance in the Indian fintech industry. The Council will also help contribute to the development of Razorpay’s payment infrastructure and help engage with key institutions and stakeholders.

All the members of the board will periodically convene to review, analyse and provide recommendations and directions on both strategic and tactical levels. 

The company has added that the board will work on key subject areas like accelerating product innovation around customer experience and customer safety, building the best-in-class practices for regulatory and compliance management processes,  working with various stakeholders to enhance risk monitoring and cybercrime prevention, building new processes around digital information security that will help shape the future of the fintech ecosystem. 

Commenting on the development, Harshil Mathur, CEO and co-founder at Razorpay said, “India’s fintech ecosystem is at a crucial juncture in its evolution. With India serving as a benchmark for several nations today, it is pertinent that companies like ours are future-ready and agile to adapt to the ever-changing fintech environment. The last eight years at Razorpay have been exceptionally great, we have had the privilege of serving and solving for over 10Mn businesses. Now in our next phase of growth as India’s leading end-to-end money movement platform for businesses, we have a strong intent to put in place further systems to uphold the highest standards of customer experience and governance.“

“On joining the board as a Chairperson, NS Vishwanathan, Former Deputy Governor, of the Reserve Bank of India (RBI) said, “In light of India’s rapidly evolving financial sector, it is crucial to foster collaboration with innovative fintech companies to drive progress and deliver superior yet compliant services to businesses and consumers. I congratulate Razorpay's Leadership team for thinking of an institutional arrangement like the Advisory Board to foster high-quality governance and compliance culture even as it grows its business.”